8:01 AM | Tasting Burger was exposed to have served raw meat; The price of Feitian Moutai has dropped by nearly 2,000 yuan; The free tickets of Nanjing Museum have been hyped up to 200 yuan by scalpers.

TOP3 Big News

Tastin Burger Exposed for Serving Raw Meat

Recently, a consumer released a video exposing that raw meat was found in Tastin Chinese Burger. On October 28, the reporter called Tastin's national customer service hotline as a consumer regarding this matter. The customer service representative stated that since the stores are franchises, they are temporarily not clear about this situation in the Guangzhou store. The customer service said that the catering raw materials for franchise stores are uniformly distributed, but the food processing is operated by the store clerks. "The company has a unified standard, but it is also implemented by the stores." At noon on October 28, the reporter visited several Tastin stores in Tianhe and Yuexiu. Many clerks told the reporter that they were not aware of the situation where "raw meat was found in a store" and that this situation did not occur in their stores.

In addition, some consumers also reported that this brand has experienced similar food safety problems more than once. In the online reviews of a store in Tianhe, the reporter saw that a consumer posted a review on October 18 indicating that the chicken they ordered seemed to be raw meat. The merchant replied a day later, saying "We apologize for this." On October 28, the reporter called the store to inquire about the handling of the incident at that time. The staff told the reporter that relevant staff would contact the reporter later. As of the time of the reporter's submission, no relevant reply has been received. (Nanfang Daily)

The price of Feitian Moutai drops nearly to 2,000 yuan

This year's "Double 11", the price war in the Baijiu industry is fierce, and the price of Feitian Moutai approaches 2,000 yuan. E-commerce platforms have dropped it to 2,050 yuan through the "10-billion subsidy", and the bulk price on the quotation platform has also dropped to 2,200 yuan, a significant decline compared to the National Day. Industry insiders say that the price drop is related to the e-commerce promotion and the market situation, highlighting the intense competition in the Baijiu market. It is understood that in order to stabilize product prices, Guizhou Moutai issued two policies in June, that is, to cancel the whole case delivery of 12 bottles of Feitian Moutai in a large case, and the original case unpacking policy may be cancelled; at the same time, the delivery of 15-year-old Moutai and Fine Moutai is suspended. Subsequently, the wholesale prices of the original case and loose bottle of Feitian Moutai experienced a short-term recovery. (Securities Times) 

Nanjing Museum's free tickets are being scalped for 200 yuan.

This summer vacation, citizens and tourists reported that it is extremely difficult to get a ticket to Nanjing Museum. At the same time, some anonymous users on social platforms are reselling tickets, driving up the price of free tickets to one or two hundred yuan. The Nanjing police and Nanjing Museum conducted in-depth research and found several abnormal IP addresses. These addresses had a large number of abnormal request behaviors in a short period of time, with time intervals at the millisecond level, and the average daily access to the reservation system exceeded 2,000 times. The police took quick action and simultaneously closed the net in Guangdong, Guizhou, and Zhejiang provinces, successfully arresting 67 criminal suspects. (CCTV.com)

Big Companies/Big Events

Xiaomi SU7 aims to deliver 20,000 units in October, Lei Jun: Still sprinting

36Kr learned that on the evening of October 27, Lei Jun, the chairman and CEO of Xiaomi, posted on Weibo to respond to users' questions. Regarding the price increase of the Xiaomi 15 series, Lei Jun said that even with the price increase, the Xiaomi 15 is still worth more than its price. "Compared to the price increase of the same memory version in previous generations, it will definitely make everyone feel that 'the high price is justified'". In addition, regarding whether the goal of delivering 20,000 units of Xiaomi SU7 in a single month can be achieved, Lei Jun said: "Still working hard to sprint."

More than 20,000 second-hand houses were sold in Beijing in October, and the online signing volume reached a 19-month high

Nearly one month after the implementation of the optimization policy for the Beijing property market, the second-hand housing market has picked up speed. As of the 26th, the actual transaction volume of second-hand houses in October has exceeded 20,000 units, and the online signing volume has reached 13,000 units. Industry insiders generally predict that the total online signing volume in October will exceed 17,000 units, reaching a 19-month high, and the actual transaction is expected to exceed 25,000 units, reaching the highest level in the same period of the past eight years since 2017. However, the industry also reminds that, unlike the expectation of price increases caused by the significant growth in transaction volume in the past, judging from the current market feedback, the rebound in transaction volume has more promoted price stabilization, and the overall upward situation has not yet emerged. (Beijing Business Today)

The international gold recycling price exceeds 600 yuan per gram 

The gold price is rising steadily, and the gold quotations in gold stores are also increasing. On October 27, the reporter conducted an on-site visit to the gold consumption market in Beijing and found that currently, the quotations of major brand gold jewelry and gold ornaments are basically above 800 yuan/gram, and the gold recycling price of some brands exceeds 600 yuan/gram. 

"Recently, the price of (gold jewelry and gold ornaments) has indeed increased a lot. After exceeding 800 yuan/gram, there are not many discounts. Including the processing fee, the price of each gram of gold has exceeded 850 yuan/gram," said a staff member of a Laofengxiang store in Beijing. Regarding the recycling business, the reporter learned through the visit that Chow Tai Fook's gold recycling quotation is 606 yuan/gram, and Laofengxiang's current recycling price is also around 600 yuan/gram. (China Securities Journal) 

Second-hand Housing Transactions in Shanghai Exceed 20,000 Sets in October 

On October 28, data from the Shanghai Online Real Estate website showed that the transaction volume of second-hand housing in Shanghai on October 27 reached 1,102 sets. As of now, the total transaction volume of second-hand housing in Shanghai since the beginning of October has reached 21,130 sets. After March, June, and July, it has exceeded 20,000 sets for the fourth time in a single month this year. According to the monitoring by Anjuke Shanghai, as of October 27, the daily transaction volume of second-hand housing in Shanghai in October has exceeded the 1,000-set mark five times. The transaction volume from the beginning of October to now has increased by more than 50% compared to the same period in September. Industry insiders believe that judging from the data alone, market demand has been released to a certain extent, and the introduction of a series of policies in the early stage has also played a positive role in promoting the growth of transaction volume. With the enhancement of market confidence and the continuous release of policy effects, it is expected that the second-hand housing market in Shanghai is expected to maintain a relatively high trading heat in the next period of time. (China Securities Taurus) 

Cainiao has fully integrated into JD.com's third-party platform, providing Cainiao Express and Cainiao Large Parcel services

Exclusive to 36Kr, following the integration of JD Logistics into Taobao and Tmall, recently, Cainiao has also fully integrated into JD.com's third-party platform to provide Cainiao Express services for merchants and consumers. The systems of both parties have basically completed the docking. Cainiao's self-operated express delivery - Cainiao Express and Cainiao Large Parcel are included in the integration. It is understood that this means that third-party merchants on the JD.com platform have a new service option.

Alibaba Pictures Takes Over 70% Shares of Dongyang Meila Held by Huayi Brothers

36Kr has learned that recently, Zhejiang Dongyang Meila Media Co., Ltd. has undergone industrial and commercial changes. Huayi Brothers has withdrawn as a shareholder, with a 70% stake before the withdrawal. Beijing Alibaba Pictures Culture Co., Ltd. has been added as a shareholder, and the legal representative of the company has been changed from Wang Zhonglei to Li Jie. Information shows that the company was established in 2015 with a registered capital of 5 million yuan. Its business scope includes: consulting on film and television cultural information; creation, planning, and trading of film and television scripts, etc.

The three major U.S. stock indexes closed higher collectively, and popular Chinese concept stocks generally rose

36Kr learned that as of the close on October 28, the three major U.S. stock indexes rose collectively. The Dow Jones Industrial Average rose by 0.65%, the Nasdaq Composite Index rose by 0.26%, and the S&P 500 Index rose by 0.27%; Large technology stocks had mixed performances. Intel rose by more than 1%, Google rose by 0.88%, Apple and Meta rose by 0.86%, and Amazon rose by 0.3%; Tesla fell by more than 2%, Netflix fell by 0.74%, NVIDIA fell by 0.72%, and Microsoft fell by 0.36%. Popular Chinese concept stocks generally rose. Miniso and NIO rose by more than 10%, XPeng Motors and Tiger Brokers rose by more than 8%, Baidu and Weibo rose by more than 3%, 36Kr rose by more than 2%, Li Auto and NetEase rose by more than 1%.

Nokia and Chunghwa Telecom Reach Extended Agreement on 5G-Advanced

Nokia announced on October 28 that it will sign a one-year renewal agreement with Chunghwa Telecom to update the 5G network in central and southern Taiwan, China. The project aims to enhance the performance, capacity and energy efficiency of Chunghwa Telecom's 5G network, and lay the foundation for the evolution of Chunghwa Telecom's 5G-Advanced network. The deployment is underway and is expected to last for 12 months. (Jiemian News)

BNP Paribas is reported to have made further job cuts, with the credit sales and trading departments affected

According to people familiar with the matter, BNP Paribas laid off at least six employees in New York last week, including David Malvern, the head of US high-yield trading. People familiar with the situation said that two investment-grade credit traders and two salespeople were also laid off. (Caixin)

DeepTrin Sets Up Asia-Pacific Regional Headquarters in Hong Kong

The Invest Hong Kong announced that DeepTrin, an inland graphics processor cloud platform, has set up its Asia-Pacific regional headquarters in Hong Kong. The DeepTrin Hong Kong office will be responsible for expanding overseas and inland market business and technological research and development outside the United States. (Jiemian News)

Indonesia Bans Sale of iPhone 16, Claiming Apple Failed to Fulfill Investment Commitment

On October 28, the Indonesian government announced a ban on the sale of iPhone 16 in the country, claiming that Apple has not fulfilled its investment commitment in Indonesia. The Indonesian Ministry of Industry earlier stated that Apple promised to invest 1.7 trillion Indonesian rupiah (approximately 109 million US dollars) in Indonesia's infrastructure and local procurement, but the actual amount fulfilled is only 1.48 trillion Indonesian rupiah. (Jiemian News)

Volkswagen is reportedly brewing a €4 billion cost-cutting plan, including salary cuts and the closure of some German factories

According to the news, sources familiar with the matter said that the Volkswagen board has drawn up a plan to seek to cut costs by about €4 billion for its underperforming passenger car brands. The proposals include a 10% salary cut for all employees and the suspension of salary growth in 2025 and 2026, as well as a plan to close some German factories. (Cailian Press)

LG Chem Establishes R&D Center in Europe

36Kr has learned that according to LG Chem, the European Innovation Center of LG Chem in Frankfurt, Germany, has recently been officially launched. LG Chem plans to focus on cultivating environmentally friendly technologies such as new-generation battery materials, biomaterials, and plastic recycling in Europe. At the same time, LG Chem is discussing the establishment of partnerships with advanced research institutions and universities in Europe, such as the Fraunhofer Institute and the Swiss Federal Institute of Technology Zurich (ETH Zurich), through the European Innovation Center. In addition, LG Chem plans to expand the scale of R&D personnel in the European Union region to more than 40 by 2028.

Volkswagen Workers in Germany to Halt Production on October 28 to Protest Factory Closure Plan

Workers of the Volkswagen Group in Germany will suspend production on October 28 to join a rally to protest the company's unprecedented factory closure plan in Germany. Union leaders plan to inform employees at 11 factories in Germany about the latest progress in negotiations with the company. These events kick off a controversial week for the largest European automaker. When the company announces its third-quarter results on October 30, it is expected to report a double decline in sales and profits. (Sina Finance)

The Forefront of AI

Alibaba.com Releases Its First Full-Process AI Product

36Kr has learned that on October 28, Alibaba.com released its first full-process AI product: the launch of AI Business Assistant 2.0. The new product equips small and medium-sized enterprises with 4 professional AI Agents in the areas of product listing, customer reception, marketing, and compliance, enabling the full-process management of the entire foreign trade operation and creating business growth for small and medium-sized enterprises. It is understood that the new AI foreign trade product will also be able to link to the enterprise's exclusive knowledge base to form a more personalized and professional service solution.

Meta Is Reportedly Developing an AI Search Engine

According to The Information, in an attempt to keep up with OpenAI in the development of artificial intelligence, Meta is developing a search engine that can crawl the web and provide users of its Meta AI chatbot with conversation answers about current events. According to a person who has communicated with the search engine team, Meta hopes to reduce its reliance on Google Search and Microsoft Bing in this way. Currently, these two companies provide users of Mete AI with information on news, sports, and stocks. (Jiemian News)

Wondershare Filmora Gets a Fresh Upgrade with Over Ten AI Features

36Kr has learned that recently, Wondershare Filmora, a video creativity software under Wondershare, has released a new version, Wondershare Filmora 2025 for the desktop. It is understood that Wondershare Filmora 2025 has newly launched more than ten AI features at once to enhance the efficiency and quality of video creation. These include efficiency-boosting features such as AI Lip-sync Translation and Intelligent Mosaic, as well as quality-enhancing features such as AI Ultra HD and AI Vocal Enhancement.

Big Company Financial Reports

Huayi Group: Operating income in the first three quarters was 34.113 billion yuan, with a year-on-year growth of 9.91%

36Kr learned that Huayi Group released its third-quarter financial report. The financial report shows that the company achieved an operating income of 34.113 billion yuan in the first three quarters, with a year-on-year growth of 9.91%; the net profit attributable to shareholders of the listed company was 603 million yuan, with a year-on-year decrease of 9.07%. In the third quarter, the operating income was 11.701 billion yuan, with a year-on-year growth of 2.10%; the net profit attributable to shareholders of the listed company was 189 million yuan, with a year-on-year decrease of 65.70%.

Haima Automobile: Net profit in the first three quarters is 56.1045 million yuan, turning losses into profits year-on-year

36Kr learned that Haima Automobile released its third-quarter financial report. The financial report shows that the company's operating income in the third quarter is 450 million yuan, an increase of 94.15% year-on-year. In the first three quarters, the operating income is 1.046 billion yuan, a decrease of 45.34% year-on-year; the net profit in the third quarter is 208 million yuan, an increase of 341.95% year-on-year. The net profit in the first three quarters is 56.1045 million yuan, while in the same period of the previous year, it suffered a loss of 149 million yuan; the basic earnings per share in the first three quarters is 0.0341 yuan.

CNOOC: Net profit attributable to shareholders in the first three quarters is 116.66 billion yuan, with a year-on-year growth of 19.5%

36Kr learned that CNOOC released its third-quarter financial report. The financial report shows that in the first three quarters, the company achieved oil and gas sales revenue of approximately 271.43 billion yuan, with a year-on-year increase of 13.9%; the net profit attributable to shareholders of the parent company reached 116.66 billion yuan, with a year-on-year increase of 19.5%. In the first three quarters, the company's average realized oil price was 79.03 US dollars per barrel, with a year-on-year increase of 2.9%; the average realized gas price was 7.78 US dollars per thousand cubic feet, with a year-on-year decrease of 1.8%.

Sinopec: The net profit attributable to the parent company in the first three quarters is 44.247 billion yuan, a year-on-year decrease of 16.5%

36Kr learned that Sinopec released its third-quarter financial report. The financial report shows that the net profit attributable to the parent company in the first three quarters is 44.247 billion yuan, a year-on-year decrease of 16.5%. The net profit attributable to the parent company in the third quarter is 8.544 billion yuan, a year-on-year decrease of 52.1%.

Greenland Holdings: Revenue in the first three quarters was 159.949 billion yuan, a year-on-year decrease of 36.93%

36Kr learned that Greenland Holdings released its third-quarter financial report. The financial report shows that the revenue in the first three quarters was 159.949 billion yuan, a year-on-year decrease of 36.93%. The company's real estate industry's carry-over scale and the revenue scale of the infrastructure industry were both significantly decreased year-on-year due to the downturn in the industry; the net profit attributable to the parent company was 237 million yuan, a year-on-year decrease of 90.40%; the basic earnings per share was 0.02 yuan. The revenue in the third quarter was 44.622 billion yuan, a year-on-year decrease of 43.82%; the net profit attributable to the parent company was 26.9504 million yuan, a year-on-year increase of 118.40%.

Investment and Financing

"Shensi Technology" Announces Completion of Series A Financing

36Kr has learned that recently, "Shensi Technology" announced the completion of Series A financing. The investors are Tongchuang Weiye and Xieli Investment. The financing funds will be mainly used for new product research and development, new production line construction, and market promotion. This round of financing is served as the financial advisor by Qichen Capital. It is introduced that Shensi Technology was founded in 2021, and its main products are current sensors and position sensors, which are applied in four major fields: automobiles, new energy, energy storage, and industrial automation.

"QCraft" Completes Hundreds of Millions of Yuan in Series C+ Financing

Exclusive to 36Kr, recently, the intelligent driving company "QCraft" has completed hundreds of millions of yuan in Series C+ financing, which is invested by Zhulu Juhang Fund. This round of financing is mainly used to increase the R & D investment in full-stack autonomous driving technology and promote the large-scale mass production and delivery of medium and high-level NOA solutions.

"Fonrich" Completes Series A Financing of Several Ten Million Yuan Exclusively by Xingzheng Capital

36Kr learned that Fonrich (Shanghai) New Energy Technology Co., Ltd. announced the official completion of the Series A exclusive financing of tens of millions of yuan, with the investor being Xingzheng Capital. This round of financing is mainly used to strengthen cutting-edge technology research, improve the product penetration rate in the industry, expand the safe and intelligent new energy system to more scenarios, and achieve the transformation goal from system research and development to the future industrial layout.

Filigran Completes $35 Million Series B Funding

The European network technology company Filigran announced the completion of a $35 million Series B funding round, led by Insight Partners, and with the continued support of existing investors Accel and Moonfire. This funding will drive the company's global expansion, particularly in the United States and the Pacific region, while supporting continuous product innovation, with a focus on artificial intelligence and data engineering use cases. (Jiemian News) 

Cool Products

Apple Releases iMac with M4 Chip, First Batch of AI Functions Officially Landed

Apple has launched the first-phase functions of artificial intelligence Apple Intelligence and released a new iMac desktop computer equipped with the M4 chip. The company announced on October 28 that the starting price of the new iMac is the same as the previous model at $1,299, with a faster processing speed and an enhanced neural network engine for handling artificial intelligence tasks. This product will be available on November 8. In addition, Apple said that its Apple Intelligence software is now available for iPhone, iPad, and Mac. Although Apple introduced the broader application of artificial intelligence in June, the initial stage only covers a small part. (Caixin)

The all-new smart #5 is officially on sale, starting from 229,900 yuan.

36Kr learned that on October 27, the all-new luxury large five-seat SUV smart #5 was officially launched. The new car focuses on sports and outdoor, and a total of four versions are launched. It is equipped with lidar, 800V platform, etc. The maximum cruising range can reach 740 km, and the limited-time price is 229,900 - 368,000 yuan. 

IM Motors: It Will Have the Mass Production Conditions for L3 Autonomous Driving in 2026

36Kr learned that on October 28, IM Motors announced that it has become the first brand in China with the mass production capabilities of L2, L3, and L4 intelligent driving. It will have the mass production conditions for L3 autonomous driving in 2026. It is understood that after launching the "Easy to Drive in All Regions and Dare to Drive in All Scenarios" mapless NOA this month, IM Motors has started the L2+ road tests in European markets such as Germany and France to create the first "Can Drive Globally" mapless NOA for intelligent driving to go overseas.

Organized by | Hao Yuqi